Edmunds is in the business of cars, and have been for many years before the internet was a mainstream tool. One of the features their site includes in the True Cost to Own tool, which allows the user to go and check what a car will really cost them to operate well before the purchase date.
The real value in this is for proper budgeting over the long term. Some of the factors that should be considered with the Edmunds True Cost to Own tool will evaluate is depreciation, taxes and fees when closing, financing and interest rates, vehicle maintenance, and any tax credits for making the purchase if the vehicle meets specific emissions standards.
The interval of time that this is evaluated over is 5 years. This gives a potential customer the full scope of what a vehicle might truly be valued at beyond just the initial purchase.
How to use Edmunds True Cost to Own Feature
- Visit www.edmunds.com/tco.html
- Input the make and model of the car you wish to purchase by means of the dropdown options.
- Click next at which point you will see a breakdown of the total costs over a 5 year period.
- Click the options button if you wish to get more detailed with the vehicle model, for example cars that are super charged or turbo charged.
- Additionally you can fill out information to get a quote on insurance if desired.
- Once you finish you will also be given a pop out window to complete a survey for Edmunds regarding user experience so they can improve their website.
Edmunds.com has other tools that can be used to see vehicle values much like Kelley Blue Book. You can navigate their site to find these from the homepage.